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Infratil Email Update

14 Nov 2008

Patronage continues to grow in Auckland, with the results for October 2008 showing a 9.7% increase over October 2007. Taking into account the difference in working days between October 2007 and 2008, patronage actually rose 11.6% over October 2007, which is approximately 29 additional bus loads of passengers per day.

Growth was seen in nearly all corridors, and was particularly strong for some routes on the North Shore (greater than 50%), Mt Eden Road and Orakei (both greater than 20%). The SuperGold card (which provides free off-peak travel for those over 65) has had a positive effect on patronage and NZ Bus will benefit as people become aware.

Patronage in Wellington for October 2008 was 4.7% below October 2007, which may be due in part to the carry-over effect of the disruptions to service due to industrial action at the end of September and beginning of October. Taking into account the difference in working days between 2007 and 2008, patronage was only 3.1% lower. In addition, the Hutt Valley (Valley Flyer) still continues to show strong growth and patronage was 11.1% above October 2008 (or 13.1% higher when adjusted for comparable working days).

On a financial year-to-date basis, patronage is 7.2% higher in Auckland when compared to the 2007/08 year, and 2.6% higher in Wellington.

Wellington Airport Monthly Overview - October 2008

Whilst the global economic downturn is contributing to the flattening of passenger volumes, Wellington Airport has not seen the full impact of this. In particular, domestic growth has bounced back. Additional domestic competition and capacity from Pacific Blue as well as the propensity for travellers to downgrade in an economic slowdown (travellers are foregoing their overseas trips in favour of holidays at home) is offsetting a lower underlying demand. Timing differences - the school holidays moving into October by a week this year - is also a factor this month.

October passenger numbers increased 18% above October 2007, up from the 10% growth of the last few months. The increase is partly attributed to the shift in school holidays. Passenger numbers increased by 18% on a rolling 12 month basis compared to the previous year. We expect to see future domestic traffic statistics moderate after the anniversary of Pacific Blue's arrival in mid November.

There was no change in passenger numbers between the months October 2007 and October 2008, and on a rolling 12 month basis passenger numbers are up 1.1% on last year. There were 50.2% arrivals and 49.8% departures in October 2008 compared to 51.5% and 48.5% in October 2007. The volumes were impacted by the withdrawal of flights to Nadi and less services to Coolongatta, but offset by passenger numbers on Brisbane services which continued to benefit from the two additional Pacific Blue services commenced in July. Another three Pacific Blue services scheduled for December will provide additional stimulus on this route. The load factor for the month of October has decreased from 84.5% last year to 78.7% this year reflecting the more difficult economic conditions as well as increased capacity, which is up by 7.3% compared to October last year.

Infrastructure update
Discover New Zealand and Sunglass Hut both opened in the main terminal in early November. Opening in December will be Mojo cafe, Beach Culture and Essity Skin Care - and improvements are continuing to existing dining areas.

Air New Zealand's check-in area is being reconfigured to accommodate a new auto check-in and boarding system for its domestic services.

Wellington Airport welcomes the Wellington Regional Council's Corridor Plan which will markedly improve the traffic and public transport route from Ngauranga to the Airport. The Airport's independent forecasting, which projects a more than doubling of airport users over the next 20 years from 5 million passengers, supports the Council's foresight in planning for long term infrastructure in advance of regional growth.

Infratil Airports Europe Monthly Overview - October 2008

Kent International Airport and Glasgow Prestwick Airport have released their vision for the next 25 years. Each airport launched a draft Master Plan in October, outlining future passenger and freight growth, terminal and airfield developments, land requirements and other relevant issues. Both documents are subject to a period of public consultation and can be accessed via the following links -



Glasgow Prestwick Airport
Glasgow Prestwick recorded a year-on-year rise in scheduled passengers for the sixth consecutive month in October.
However, the steep fall in charter traffic resulting from the collapse of Seguro, down 91% on last year, resulted in a total of 212,441 passengers, down 7% on the same month in 2007.
The loss of charter traffic has affected year-to-date passenger growth, which is now 0.5% down on the equivalent period last year.
Ryanair launched three new services at the end of the month. These are to popular holiday destinations Tenerife, Malaga and Faro. These destinations have been traditionally served by the charter market in the west of Scotland and sales are strong.
Glasgow Prestwick handled 1,448 tonnes of freight during the month, down 45% on last October.
The year-on-year shortfall is consistent with monthly results since June, when Atlas / Polar ceased operations, having previously been Glasgow Prestwick's largest freight customer.
The year-to-date freight volume of 13,050 tonnes is 29% down on the same period in 2007.

Kent International Airport
Kent International handled 1,235 tonnes of freight in October, down 70% on the prior year total due to the absence of MK Airlines' regular traffic, following that company going into administration earlier this year.
EgyptAir recorded a year-on-year rise of 35% with growth in demand for export loads from KIA.
November has commenced more strongly, with a number of additional seasonal produce flights.

Lübeck Airport
Lübeck Airport handled 47,839 passengers in October.
This result is down 13% against October 2007, consistent with September's result.
The year-to-date passenger total of 342,862 is 14% down on the same period in 2007.
Both the October and year-to-date performances closely reflect the drop in capacity against 2007 however, winter capacity on sale is 20% ahead of last winter.
Ryanair launched their new daily domestic service to Frankfurt Hahn at the end of the month.
It has also continued its Dublin service through the winter. This route will benefit from Aer Lingus' decision to discontinue its Dublin-Hamburg route.
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